Top Items:
New York Times:
Fed's $85 Billion Loan Rescues Insurer — By EDMUND L. ANDREWS, MICHAEL J. de la MERCED and MARY WILLIAMS WALSH — WASHINGTON — Fearing a financial crisis worldwide, the Federal Reserve reversed course on Tuesday and agreed to an $85 billion bailout that would give the government control …
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The Huffington Post, DownWithTyranny!, Megan McArdle, Matthew Yglesias, Real Time Economics, About.com US Politics, TigerHawk, American Street, The Moderate Voice, Alas, a blog, Buck Naked Politics, Hullabaloo, American Power, Concurring Opinions, Newshoggers.com, The Big Picture, Lawyers, Guns and Money, Mish's Global Economic …, Economist's View, naked capitalism, Eschaton, the talking dog, Opinion L.A., TIME.com, Balkinization and ECHIDNE OF THE SNAKES
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Michael D. Shear / Washington Post:
McCain Embraces Regulation After Many Years of Opposition — A decade ago, Sen. John McCain embraced legislation to broadly deregulate the banking and insurance industries, helping to sweep aside a thicket of rules established over decades in favor of a less restricted financial marketplace …
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New York Times, Guardian, New York Times, Connecting.the.Dots, Los Angeles Times, TIME.com and AMERICAblog News
David Leonhardt / New York Times:
Perhaps, Time for Someone to Play Offense — WASHINGTON — Late last week, as Lehman Brothers was collapsing, an all-star group of economists was meeting here to ponder the lessons of the financial crisis. The group included Donald Kohn, the vice chairman of the Fed, and Edward Lazear …
Wall Street Journal:
U.S. Plans Rescue of AIG to Halt Crisis; Central Banks Inject Cash as Credit Dries Up — $85 Billion Loan for Giant Insurer Aimed at Averting Collapse; — Historic Move Would Cap 10 Days That Reshaped U.S. Finance; — Fed Says AIG Will Sell Businesses in Orderly Manner
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USA Today, Pajamas Media, New York Times, Real Time Economics, Real Clear Politics, Portfolio, Conglomerate and The Corner
Mike Allen / The Politico:
Pelosi orders wide Wall Street probe — House Speaker Nancy Pelosi has ordered a broad, swift investigation of Wall Street and will demand testimony from Bush administration officials and captains of finance, congressional officials said. — House Democrats plan to aggressively look …
Washington Post:
U.S. Seizes Control of AIG With $85 Billion Emergency Loan — Insurer's Wide Reach Justifies Intervention, Fed Says — Invoking extraordinary powers granted after the 1929 stock market crash, the government seized control of the insurance giant American International Group to preserve …
Board of Governors of the Federal Reserve System:
For release at 9:00 p.m. EDT
For release at 9:00 p.m. EDT
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The Swamp, Calculated Risk, ParaPundit, Mish's Global Economic …, Firedoglake, Portfolio, DealBook, Time, Concurring Opinions and Paul Kedrosky's …
David Zaring / Conglomerate:
Can the Government Buy an Insurance Company for Cheap?
Can the Government Buy an Insurance Company for Cheap?
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Marginal Revolution
Edmund L. Andrews / International Herald Tribune:
Fed rescues AIG with $85 billion loan for 80% stake
Fed rescues AIG with $85 billion loan for 80% stake
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LewRockwell.com Blog
CNN:
Fiorina's comment called ‘Biden-like’ — (CNN) — Top McCain-Palin official Carly Fiorina is facing criticism from some within the campaign for a day of what they call “very Biden-like” comments, after the former Hewlett-Packard CEO told two separate interviewers that neither member …
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Washington Monthly, Christian Science Monitor, pandagon.net, They gave us a republic, www.redstate.com and TBogg
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Faiz / Think Progress:
McCain reportedly ‘furious’ with Fiorina, campaign adviser says she will ‘disappear’ from TV. — McCain reportedly ‘furious’ with Fiorina, campaign adviser says she will ‘disappear’ from TV. — Today, McCain economic adviser Carly Fiorina bluntly stated that neither John McCain nor Sarah …
Discussion:
Christian Science Monitor
Mark Preston / CNN:
Prominent Clinton backer and DNC member to endorse McCain — WASHINGTON (CNN) — Lynn Forester de Rothschild, a prominent Hillary Clinton supporter and member of the Democratic National Committee's Platform Committee, will endorse John McCain for president on Wednesday, her spokesman tells CNN.
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Los Angeles Times, JammieWearingFool, The Strata-Sphere, The News Buckit and Blue Crab Boulevard
David Alexander / Tales from the Trail:
Financial gloom doesn't halt glitzy Obama fundraiser — So what does Barack Obama do after a hard day of defending the common man during the worst financial crisis since the Great Depression? — Throw a $28,500-a-head fundraising dinner, of course. — Followed by a $2,500 …
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The Caucus, No More Mister Nice Blog, The Other McCain, Blue Crab Boulevard and Commentary
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Ed Morrissey / Hot Air:
Sebelius: Say, did you know Republicans are racists? Update: AP or Miami Herald tries cleaning up Sebelius' comments — Hmmm. Didn't Barack Obama just get done scolding John McCain over “dishonorable” attacks? Maybe he should save his criticisms for his surrogates, except that they're parroting The One in his own baseless smears.
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Tom Maguire / JustOneMinute:
The Mortgage Debacle - Not Enough Blame To Share Some With The Democrats? — Nancy Pelosi somewhat implausibly insisted that Democrats are blameless in the current mortgage debacle: … Barack Obama blames Bush for slack oversight: … However, the record tells the opposite story …
Discussion:
Neptunus Lex, Classical Values, Barack Obama and Joe Biden, The Other McCain and Hot Air
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Klaus Marre / The Hill:
Pelosi: Dems bear no responsibility for economic crisis
Pelosi: Dems bear no responsibility for economic crisis
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Stop The ACLU, The Crypt's Blogs, Maggie's Farm, Macsmind, Wake up America, Michelle Malkin, USS Neverdock and THE ASTUTE BLOGGERS
Eric Boehlert / Media Matters for America:
McCain and Palin are laughing at the press — and it's the press' fault — Chris Matthews was steamed. — As John McCain's manufactured “lipstick on a pig” story was taking flight last week, Matthews, host of MSNBC's Hardball, kicked off the hour by teeing up the story.
Tahman Bradley / Political Punch:
Obama Inflates Role in Creation of Stimulus Package — In Golden, Colo., today, Sen. Barack Obama, D-Ill., took credit for the stimulus package that passed earlier this year. — “In January, I outlined a plan to help revive our faltering economy,” Obama said, “which formed the basis …
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Ed Morrissey / Hot Air:
The Silence of the Lemmings — Barack Obama's campaign seems determined to cultivate a hostile relationship with potential critics, real and imagined. After complaining loudly that talk radio doesn't provide a balanced look at politics, KCOL's Brad Jones attempted to get an Obama spokesperson …
Ace / Ace of Spades HQ:
Democrats Go There — I'm sure Keith Olbermann will be angered to tears over exploiting this tragedy. — So long as we know what the ground rules are, fine. We'll start running commercials accusing Democrats of dishonoring the dead. (F**k that— let's have some now-out-of-the-service vets explain …